The following tables show the top 100 originators, holders and
consolidators of
Federal Family Education Loan Program loans. (The list of originators
is accurate as of March 28, 2008, and represents FY2007 data.
The list of consolidators is accurate as of April 3, 2008, and
represents FY2007 data.
The list of holders is accurate as of April 14, 2008
and represents FY2007 data. This
is the most recent data available.) The
figures for origination exclude consolidation loans. The
figures for holders include consolidation loans.

Lenders that hold the most loans accomplish this either by buying the
loans directly from originators, by originating the loans themselves
and not reselling them, or by consolidating a lot of loans held by
other lenders.

Based on these statistics, the largest purchaser of student loans
is Sallie Mae, followed by Nelnet, GCO-ELF, Brazos Group, Educational
Services America, PHEAA and JPMorgan Chase. (Some of the growth may
have been through acquisition of other education lenders.) Similarly,
the lenders with the greatest reductions in their holdings net of
originations include Wachovia, IDAPP, Bank of America, Wells Fargo,
Edamerica, U.S. Bank, Regions Bank, PNC Bank, Suntrust and Citizens
Bank. Lenders who appear to have been growing through consolidation
include Student Loan Xpress and Next Student.

Another source of similar data is
Student Marketmeasure.
Student Marketmeasure reports gross loan volume and not net disbursements.

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Originators

These lenders originate 91.5% of all FFELP loans. The total of
FFELP loan originations for all lenders was
$47.5 billion in FY2007, down from
$49.7 billion in FY2006.

These lenders hold 98.6% of all FFELP loans. The total of
FFELP loan holdings for all lenders was $367.6 billion
in FY2007, up from $324.9 billion
in FY2006 and $281.6 billion in FY2005. Many of the largest
holders of student loans are
secondary markets.